SCHEDULES

SCHEDULE 5Eligibility and regulation of local auditors

I127

1

Section 1262 (index of defined expressions) applies with the following modifications.

2

Omit the following entries—

  • “approved third country competent authority”;

  • “audit working papers”;

  • “audited person”;

  • “Auditor General”;

  • “company”;

  • “enactment”;

  • “main purposes of this Part”;

  • “parent undertaking”;

  • “recognised, in relation to a qualifying body”;

  • “registered third country auditor”;

  • “rules of a qualifying body”;

  • “statutory auditor, statutory audit and statutory audit work”;

  • “subsidiary undertaking”;

  • “third country”;

  • “third country auditor”;

  • “third country competent authority”;

  • “transfer (in relation to audit working papers)”;

  • “UK-traded non EEA company”.

3

At the appropriate places insert—

enactment

section 44(1) of the Local Audit and Accountability Act 2014”;

“local audit

paragraph 1(2) of Schedule 5 to the Local Audit and Accountability Act 2014”;

“local auditor

section 4(1)(b) of the Local Audit and Accountability Act 2014”;

“local audit work

paragraph 1(2) of Schedule 5 to the Local Audit and Accountability Act 2014”;

“officer, in relation to a relevant authority

section 44(1) of the Local Audit and Accountability Act 2014”;

“parish meeting

section 44(1) of the Local Audit and Accountability Act 2014”;

“recognised qualifying body

section 1219(13)”;

“relevant authority

section 2(1) of the Local Audit and Accountability Act 2014

4

In the entry for “officer”, after “officer” insert “ , in relation to a body corporate other than a relevant authority ”.

5

In the entry for “qualifying body” for “section 1220(1)” substitute “ section 1219(3)(a) ”.

6

For the entry for “recognised, in relation to a professional qualification” substitute—

recognised professional qualification

section 1219(12)